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Peru ups foreign investment cap for pension funds
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LIMA, June 16 |
LIMA, June 16 (Reuters) - Peru's central bank on Wednesday raised foreign investment limits for private pension funds to 26 percent from 24 percent.
The central bank said the move will allow private pension funds to shift some $500 million abroad. The bank's decision could also help push down the local sol currency PEN=PE versus the dollar.
There are four pension funds in Peru that hold some $24 billion in assets. They have approximately 22.4 percent of their assets abroad.
The central bank raised foreign investment levels for pension funds in January two percentage points to 24 percent. (Reporting by Teresa Cespedes; Writing by Eduardo Garcia; Editing by Gary Hill)
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